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Pin to quick picksBT Share News (BT.A)

Share Price Information for BT (BT.A)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 132.60
Bid: 132.70
Ask: 132.80
Change: 19.45 (17.19%)
Spread: 0.10 (0.075%)
Open: 123.50
High: 133.25
Low: 120.50
Prev. Close: 113.15
BT.A Live PriceLast checked at -

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Citi trims BT target price to incorporate Virgin Media contract loss

Fri, 08th Nov 2019 11:41

(Sharecast News) - Citi trimmed its price target on BT to 205p from 220p on Friday as it incorporated the loss of the Virgin Media wholesale contract, which was announced earlier this week.
On Wednesday, Virgin Media said it had agreed a five-year deal to switch its more than 3 million mobile customers to the Vodafone network once its agreement with BT runs out in late 2021.

Citi said its views on BT had not changed much following the second quarter results.

"We consider that both competitive dynamics and regulatory outlook are improving for BT. There are abundant cost efficiency for BT to drive long term EBITDA growth," it said. "However, over the next 12 months, BT still need to weather through a number of regulatory headwinds, with most of efficiency savings likely being reinvested to modernise system and drive future efficiency improvement."

It said that this, along with a potential dividend cut, further downside risks to consensus estimates and "noises around Champions League rights", leave it 'neutral' on the stock.

At 1145 GMT, BT shares were down 0.5% at 189.50p.
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